The stock ended the session in the red today. It closed at Rs 147.50 with a fall of 0.04 per cent from the previous close of Rs 147.56 on the NSE.
Shares of NSE-listed company Servotech Renewable Power System Ltd will be in focus when market opens on Monday as the company has signed a MoU with Noida Power Company Limited (NPCL), a JV of RP-Sanjiv Goenka Group and Greater Noida Industrial Development Authority to scale up the Electric Vehicle (EV) charging infrastructure across Greater Noida.
Under this partnership, the two organizations will work together to identify and develop EV charging stations in key locations such as corporate buildings, residential societies, commercial complexes, and hospitals. NPCL will play a facilitative role in recommending sites and ensuring smooth coordination with DISCOMs to reduce infrastructure setup time and cost.
Share Price Today
The stock ended the session in the red today. It closed at Rs 147.50 with a fall of 0.04 per cent from the previous close of Rs 147.56 on the NSE. Earlier in the day, it had touched a high of Rs 150 after starting the session on a positive note.
The 52-week high of the stock is Rs 205.40, and the 52-week low is Rs 86.10. The market cap of the company is Rs 3,316 crore.
Servotech, French Firm To Develop EV Charger Components For Domestic Market
Earlier, Servotech and France-based Watt & Well signed an agreement to develop and manufacture EV charger components. The agreement aims to design, manufacture and sell EV charger components in India, Servotech Renewable Power System Ltd said in a statement.
Under the pact, Servotech said it will manufacture power modules in India to achieve the ‘Make in India’ mission, while Watt & Well will provide technical support.
Servotech will have the exclusive right to market and sell these components in India.
The collaboration will initially focus on the development of a 30 kW power module for use in the Indian EV charging market.
The companies will also jointly assess the viability and process for the production of a bidirectional power module for V2G (vehicle-to-grid) applications.
Servotech Power Systems is a listed entity that develops tech-enabled EV charging and solar solutions.
With PTI Inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)